- Shanghai Edrive, division of Broad-Ocean, is the first facility
for Chinese produced Ballard fuel cell modules
- Ceremony attended by the Honourable Catherine McKenna,
Canada's Minister of Environment
and Climate Change
VANCOUVER and SHANGHAI, China, Dec.
6, 2017 /PRNewswire/ - Ballard Power Systems (NASDAQ: BLDP;
TSX: BLDP) today announced that a subsidiary of strategic partner
Zhongshan Broad-Ocean Motor Co., Ltd. ("Broad-Ocean";
www.broad-ocean.com/en/index.html) – called Shanghai Edrive Co.
Ltd. ("Shanghai Edrive") – has commissioned its fuel cell engine
manufacturing facility located in the City of Shanghai, China. Shanghai Edrive will
assemble Ballard FCveloCity® 30-kilowatt (kW) and 85kW
fuel cell engines at the facility under a technology transfer,
licensing and supply arrangement between Ballard and Broad-Ocean
that closed earlier this year. Broad-Ocean also plans to assemble
Ballard-designed engines at facilities in Hubei and Shandong Provinces.
An opening ceremony held today at the Shanghai Edrive facility
was attended by the Honourable Catherine McKenna, Canada's Minister of Environment and Climate
Change and Mr. Ma Xingfa, Vice Chairman of the Shanghai Municipal
Government Science and Technology Committee, along with Mr. Gong
Jun, CEO of Shanghai Edrive and Mr. Alfred
Wong, Managing Director of Guangzhou Ballard Power Systems
Co., Ltd.
Minister McKenna noted, "Clean fuels reduce carbon pollution and
help improve air quality. That's why Canada supports innovative businesses like
Vancouver-based Ballard. Its fuel
cells, which are used for electric buses, facilitate affordable
zero-emission transportation. Ballard is commercializing and
exporting clean energy solutions that are in demand here in
China, and around the
globe."
Randy MacEwen, Ballard President and CEO said, "Commissioning
of Shanghai Edrive's facility is an important step in our strategy
to localize production in China,
as the market for fuel cell-powered heavy duty applications –
including buses and commercial trucks – heats up in China. And, this timing dovetails with the
recent roll-out of the Shanghai Fuel Cell Vehicle Development Plan,
a ground-breaking initiative for large-scale vehicle deployment.
The Plan includes annual production targets of 3,000 fuel cell
electric vehicles by 2020 and 30,000 fuel cell electric vehicles by
2025."
Mr. MacEwen continued, "We are thrilled to have Broad-Ocean as a
key partner to accelerate the adoption of fuel cell-powered
heavy-duty vehicles in China.
Broad Ocean has manufacturing scale, supply chain muscle,
operations excellence, bus and commercial vehicle OEM
relationships, and a strong balance sheet. Ballard will also
benefit from Broad-Ocean's demand pull-through of fuel cell
vehicles for use in its own new energy vehicle leasing
business."
Mr. Gong Jun, Shanghai Edrive CEO added, "We anticipate
significant demand for zero-emission fuel cell electric buses and
commercial trucks in key Chinese cities, including Shanghai. We are excited to collaborate with
Shanghai to support implementation
of the Shanghai Fuel Cell Vehicle Development Plan. Our company has
already started production of Ballard-designed fuel cell engines
and we expect to scale our manufacturing operation through
2018."
Shanghai Edrive's fuel cell engine manufacturing facility is
over 50,000 square feet and has a capacity to manufacture and test
several thousand engines annually. Ballard has provided training to
Shanghai Edrive to ensure consistent manufacturing build quality
and engine performance.
Each fuel cell engine assembled by Shanghai Edrive will utilize
FCvelocity®-9SSL fuel cell stacks manufactured by
Guangdong Synergy Ballard Hydrogen Power Co., Ltd., a joint venture
owned by Guangdong Nation Synergy Hydrogen Power Technology Co.
Ltd. ("Synergy") and Ballard in the City of Yunfu in China's Guangdong
Province. The joint venture manufacturing facility was
commissioned in September 2017.
Shanghai Edrive was founded in 2008 as a manufacturer of
electric drive systems and motor controllers for use in a variety
of electric vehicles and has been a subsidiary of Broad-Ocean since
2016.
On August 18, 2016 Broad-Ocean
became Ballard's largest shareholder following an investment of
$28.3 million in Ballard common
shares, representing approximately 9.9% of Ballard's outstanding
common shares following the transaction. During 2017 Broad-Ocean
has manufactured over 70 million motors to power small and
specialized electric machinery for electric vehicles (EVs),
including buses, commercial vehicles and passenger vehicles, and
for heating, ventilation and air conditioning (HVAC).
About Ballard Power Systems
Ballard Power Systems
(NASDAQ: BLDP; TSX: BLDP) provides clean energy products that
reduce customer costs and risks, and helps customers solve
difficult technical and business challenges in their fuel cell
programs. To learn more about Ballard, please visit
www.ballard.com.
This release contains forward-looking statements concerning
planned production, product deployments, market adoption and demand
for our products. These forward-looking statements reflect
Ballard's current expectations as contemplated under section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Any such
forward-looking statements are based on Ballard's assumptions
relating to its financial forecasts and expectations regarding its
product development efforts, manufacturing capacity, and market
demand.
These statements involve risks and uncertainties that may cause
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general economic and regulatory changes, detrimental reliance on
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achieving and sustaining profitability. For a detailed discussion
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performance, please refer to Ballard's most recent Annual
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obligation to update or release any revisions to these forward
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This press release does not constitute an offer to sell or the
solicitation of an offer to buy securities. The Ballard
Common Shares have not been registered under the United States
Securities Act of 1933, as amended, or the securities laws of any
other jurisdiction and may not be offered or sold in the United States absent registration or an
applicable exemption from registration requirements.
SOURCE Ballard Power Systems Inc.